Marsh & McLennan Agency has acquired the employee benefits division of Kaeding, Ernst & Company.
The division, with approximately $600,000 in annual revenue, will become a part of Bostonian Group, a Marsh & McLennan Agency company. Marsh & McLennan says the acquisition will expand Bostonian’s depth and expertise in employee benefits.
Terms of the transaction were not disclosed.
Marsh & McLennan Agency, New York, is a subsidiary of insurance broker Marsh Inc. Kaeding, Ernst & Company, Marlborough, Mass., is an employee benefits, life insurance, and financial planning consulting firm.
The transaction is the second complementary acquisition for Bostonian/MMA following the February acquisition of the Boston office of Kinloch Consulting Group Inc., the employee benefits division of Kinloch Holdings Inc.
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